Q: Has Our Market Set to Finish Strong?
Here’s a look at where our local real estate market stands at year’s end.
With interest rates hovering around historic lows of 2.75%, very little supply, and a surplus of demand, we’re still in a phenomenal seller’s market here in the St. Louis/St. Charles area. We had 25 houses close this fourth quarter, and our average days on market is just 11; houses are selling within their first week of hitting the market. Our average sales price is 108% of the list price—things are as competitive as ever for buyers, and sellers are benefiting nicely.
We foresee more of the same for our market in the first quarter of 2021, as interest rates should remain low and demand will continue to outpace supply. There’s never been a better time to sell your home, but if you’re a first-time homebuyer or looking to upgrade in the market, know that you’ll also be able to take advantage of increased purchasing power.
If you have any questions about our market or are thinking of buying or selling a home soon, don’t hesitate to reach out to us. We can help you decide if now is the right time for you to take advantage of this real estate market.
Shucart Realty Group wishes you a very happy and holiday season and a blessed 2021!